On Monday, Digitech Venture Capital Fund, Inc. announced it has made its first venture capital investment in Texas warranty management startup, SmartHome Hero.
Paul C. Watson, Digitech’s CEO, stated:
“I’ve been on both sides of investments from prestigious PE funds, to lesser known angel groups and VC funds. There’s a strong need for a hands-on, roll up your sleeves attitude in today’s ‘crowdfunding’ mindset. Our focus is to be pragmatic, be active investors and align ourselves with industry specialists to fuel portfolio growth.”
Watson also revealed that he has been observing SmartHome since the Texas Venture Growth Forum (TXVGF) last October. SmartHome Hero’s soft launch and demo of its SaaS platform will be at the Builders Digital Experience (BDX) Summit in Austin this April.
Commenting on SmartHome Hero’s services, Mike Bartleman, VP Operations of Beazer Homes, explained:
“We believe SmartHome will enhance the home buying as well as the living experience for homeowners. Simplifying warranty and service has needed to be addressed for some time. This is a huge leap in the right direction.”
David Carolan, CEO of SmartHome Hero, added:
“We are excited to have Digitech take a leading role in our seed round. Our goal is to raise $750K in convertible notes before Q3 while ramping users and adding new features prior to launching our Series A round later this year.”